Highest net results in the history of PT
Thursday, February 08, 2007
Today the PT Group communicated its non-audited results pertaining to 2006. Market expectations were once again topped as PT closed the year by registering a net result of Euro 867 million, the highest result ever in the history of the company and 33% up on 2005
At a press conference held today at Fórum Telecom in Lisbon, the PT Group presented the annual results for 2006 (non-audited). The presentation to the market, broadcast on webcast via the Sapo portal, was anticipated in order to “provide shareholders with updated and precise information on the situation and trends of the company, whose future shall be decided on 2nd March by the shareholders”, explained Henrique Granadeiro, Chairman of the PT Group. The net result of Euro 867 million for 2006, is the highest ever in the history of the company and 33% up on 2005.
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Henrique Granadeiro, Chairman
of the PT Group |
The presentation started with a few words in memory of Luís Ribeiro, Director of PT Investimentos Internacionais who died recently. In the words of Henrique Granadeiro, “he was a man of great importance for Portuguese journalism and an important man in the life of PT and his journey through life and humanity will forever be marked by his involvement in various projects and by the way he was able to attract the attention of everyone around him and was always available to solve everyone’s problems. Now that Luís Ribeiro is no longer amongst us the world has become poorer, specially my world”.
During the presentation the Chairman enhanced that “during 2006 we worked and focused on business development, on team motivation and on the improvement of services rendered to the client. In spite of all the regulatory obstacles we have been innovative and pioneers in the launching of products”.
Luís Pacheco de Melo, Executive Director responsible for finances highlighted that “PT once again fulfilled its promise to the market. Pertaining to the last quarter of 2006, Luís Pacheco de Melo highlighted the strong operational dynamics i
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Luís Pacheco de Melo, Executive Director
responsible for Finances | n all internal businesses, the confirmation of the recovery of Vivo together with the good performance registered in the remaining international assets and the strong generation of cash flow and the solid debt structure.
As pertains the business analysis, the Chairman of the PT Group highlighted in the Fixed, the bet on the development of infrastructures and network systems, availability of broadband Access to all national territory and the increase in Access speed. Highlight also goes to the IPTV project which i s underway and is scheduled to be marketed in June this year. In the fixed business focus also goes to the Sapo Portal which registered an increase in income of over 40% and according to Henrique Granadeiro
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The Executive Committee of the PT Group
presented the highest net results in the
history of the company | “its leadership in Portugal has been acknowledged, in front of the big international players”.
In the mobile business, TMN reinforced its market share in all segments and launched “Casa T” which registers over 100 thousand clients. It is the first fixed-mobile integrated product and the first bet of the group on a strategy of converging products. Highlight also in the mobile business to the launch of the Mobile TV service with 21 channels, for the implementation of a m-ticketing system at the Lusomundo cinemas and for the investment in the 3G coverage and in the dynamisation of the mobile broadband market.
In PT Multimedia Henrique Granadeiro underlined the reinforcement in the offer of contents and digital services and the launch of the quickest broadband product on the market with a speed of 25 Mb. Reference should also be made to the investment in the new network architecture with various optic fibre rings which allowed the increase in capacity and improvement in service quality for TV Cabo clients. Already in 2007, TV Cabo began to market the voice service, thus rendering available a Triple Play offer – voice, TV and Internet – to its clients.
At international level the technological alteration at Vivo for GSM is underway since 2006 and the integration of the various companies that comprised Vivo into one single company has also been concluded as well as the integration of systems that increased the capacity to satisfy market demand and “it is already affording results in terms of clients gathered by Vivo”, highlighted the Chairman of the PT Group. At international level highlight also goes to the acquisition of the mobile operator MTC in Namibia that consolidated the presence of the PT Group in the African continent.
The Chairman of the PT Group also enhanced that “although the takeover bid had a negative effect on the life of the company, due to the limited management of important variables for the development of businesses, the 2006 results demonstrate a healthy financial situation and reinforce the good operational situation of the various PT businesses”. During the presentation highlight was also given to the progress in the pension funds and in “initiatives to cut down on costs and efficiency in the management of floating capital that allowed for important reductions in the Group’s debt”. Net debt maintained stables and there was an extraordinary contribution of Euro 300 million to the Pension fund.
In the end Henrique Granadeiro enhanced the “commitment with quality and focus on the client. We registered significant improvement in assistance / accessibility, in installations, in breakdown and complaints and in the recovery of clients”.
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